Brent crude is trading at $ 52.86 a barrel. Quotes for Oil are traded above the average with a period of 55, which indicates the existence of a bullish trend for Brent Oil. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worthwhile to expect a moving average test with a period of 55 near the level of 52.30, from which one should expect an attempt to continue growth with the first goal near the level of 54.60.
Bollinger Bands Brent forecast on April 5, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 52.40. The abolition of the option of continuing the growth of Brent Oil will be a breakdown of the lower border area, as well as the moving average and the closing of the pair’s quotations below the 52.00 area, which will indicate a change in the trend in favor of the bearish on Brent Oil. In the event of breakdown of the upper border of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 54.60.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
